Q2 Holdings Q1 revenue $165.5M (+8% YoY); raises FY2024 guidance

Q2 Holdings, Inc.

2024-Q1 EPS reported -$0.23 revenue$165,508,000

GAAP net loss $13.8M vs. $0.5M loss in prior-year quarter (which included $19.9M gain on debt repurchase).
Adjusted EBITDA $25.2M, up from $16.5M YoY; subscription ARR $615.1M (+18% YoY).
Backlog $1.9B (+25% YoY); signed four Tier 1 digital banking contracts in Q1.
Q2 2024 guidance: non-GAAP revenue $169-172M, adjusted EBITDA $26-28M.
FY2024 guidance raised: non-GAAP revenue $686-692M, adjusted EBITDA $110-114M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Q2 Holdings, Inc. reported first quarter ending March 31, 2024 results: revenue $165.5 million, net income GAAP net loss for the first quarter of $13.8 million. Guidance raised.

Period: first quarter ending March 31, 2024
Revenue: $165.5 million
Net income: GAAP net loss for the first quarter of $13.8 million
Guidance: raised
Result: reported results

Exact text from the filing

solutions for financial services, today announced results for its first quarter ending March 31, 2024. GAAP Results for the First Quarter 2024 • Revenue for the first quarter of $165.5 million, up 8 percent year-over-year an d up 2 percent from the fourth quarter of 2023. • GAAP gross margin for the first quarter of 49.7 percent, up from 47.9 percent in the prior-year

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Source: SEC EDGAR

accession 0001410384-24-000097

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